Please ensure Javascript is enabled for purposes of website accessibility

Under Armour’s departing COO had helped open new markets

Brad Dickerson

Brad Dickerson (Under Armour)

The No. 2 man at Under Armour is stepping down early next year, leaving big shoes to fill as the brand expands through technology and international markets.

The Baltimore sportswear brand announced Tuesday that its Chief Operating Officer Brad Dickerson will step down next year for a job outside the athletic apparel industry. Dickerson joined Under Armour in 2004 before its initial public offering and led the company through more than a decade of expansion.  Driven by sales of its moisture-wicking clothing and a constant push into new markets, such as shoes, the company generated $3.08 billion in revenue last year, more than 10 times its sales from the year Dickerson joined.

“During his time at Under Armour, Brad has played an integral role in providing value for the company by building a strong team and demonstrating a core competency of accelerating growth, taking the company from pre-IPO to a multi-billion dollar global business,” said Under Armour CEO Kevin Plank in a statement.

Dickerson will stay on until February, Under Armour said. The company will conduct an external search for a new CFO, and Dickerson’s operational duties will be distributed among the current leadership team as well as to the new finance chief.

Dickerson brought two key things to the Under Armour brand: innovation and knowledge of international markets, said Auburn Bell, marketing professor at Loyola University’s Sellinger School of Business.

“Brad was certainly one of the key people there that embraced the whole innovation concept,” said Bell. “A lot of people throw the term innovation around … to have CFO and COO be one person driving that process is key.”

At the brand’s biennial Investor Day last month, Dickerson was enthusiastic about the company’s growth overseas and its potential with the success of Under Armour’s Connected Fitness apps, saying they bring “enormous untapped opportunities” to the brand as it strives to become a $7.5 billion company by 2018.

“The confidence we have in our investments leads to results,” he said.

While Under Armour didn’t disclose Dickerson’s new position, he said it is outside of the athletic apparel industry and that he will use his expertise in helping an early-stage company accelerate its growth. Dickerson became Under Armour’s CFO in 2008 and added the COO title earlier this year.

Dickerson came to the company in July 2004 as corporate controller, a role he had until February 2006. He was then promoted to vice president of accounting and finance until becoming CFO in February 2008. Before coming to Under Armour, Dickerson was CFO of Macquarie Aviation North America from January 2003 to July 2004 and held different roles at Network Building & Consulting, including CFO from 1998 to 2003, according to Under Armour’s business website.